Endomines Finland Oyj reported that is has intersected high grade gold at the 1050 m level in the Pampalo gold mine. An underground exploration drill hole (T-1827) was drilled as a part of the fall 2022 drilling campaign to confirm the continuation of the deposit to the depth. The drill hole T-1827 intersected 6.0 m grading 9.2 g/t gold and it proves that the mineralized zone continues at least 235 vertical meters downwards from the current production area, between the 755 m and 815 m mine levels.

The deposit remains open at depth. In December 2022Endomines completed a 4509 m underground drilling campaign in Pampalo mainly to prepare the area between the 875 m and 815 m mine levels for mining. The drill core from the campaign is currently being geologically logged and assayed for gold.

The remaining results are expected to be released during First Quarter 2023. The drill hole T-1827 verifies the continuation of the gold mineralized structure downwards but more drilling is needed to determine the economic viability of mining the area. The next underground drilling campaign is planned for spring 2023.

All underground drilling has been carried out by Comadev Oy, using BQTK tubes, resulting in core of 40.7 mm in diameter. Drill hole locations, start azimuths and -dips have been surveyed by using mine survey equipment. Downhole survey of bearing and dip deviations have been done by using Reflex Gyro survey tool.

All core has been oriented with Reflex ACT equipment. The drill cores have been logged by Endomines own personnel. The preparation and assaying of the underground drillings core samples have been carried out at Endomines laboratory in Pampalo, Finland or at the CRS Minlab Oy in Kempele, Finland.

The sample procedure used at the laboratory was MPC's PAL1000 PULVERISE AND LEACH machine with AAS finishing. The used sample size was 500 g of crushed core. Normal QA/QC (Quality Assurance/Quality Control) procedures have been adhered to on all the samples, with standards, blanks and duplicates routinely submitted as part of the sampling program.

The quality of sample preparation, security integrity and chemical assays was equal to, or exceeded, current industrial standards and the requirements of the JORC-code. This statement has been controlled by Eurogeologist Jani Rautio MSc (Geol) acting as a Qualified Person in compliance with the Fennoscandian Association for Metals and Mining Professionals, FAMMP, -standards. Jani Rautio is a full-time employee of Endomines.